Vontobel mtx Sustainable Emerging Markets …/media/equitytrustees/files/ins...This is the Information Memorandum (‘IM’) for Units in the Vontobel mtx Sustainable Emerging Markets

Vontobel mtx Sustainable

Emerging Markets Leaders Fund

ARSN 609 786 469, APIR ETL0468AU Date issued 7 February 2018

2/15 Division / Business Unit / Information / Date Vontobel

This is the Information Memorandum (‘IM’) for Units in the

Vontobel mtx Sustainable Emerging Markets Leaders

Fund (ARSN 609 786 469) (referred to as the ‘Fund’) and

was issued on 7 February 2018. This IM has been

prepared and issued by Equity Trustees Limited (ABN 46

004 031 298 AFSL 240975) in its capacity as the

responsible entity of the Fund (referred to throughout this

IM as the ‘Responsible Entity’, ‘Equity Trustees’, ‘us’ or

‘we’). The issue of this IM is authorised solely by Equity

Trustees. No other person (whether or not related to Equity

Trustees) is responsible for any information contained in

this IM. The investment manager and distributor of the

Fund is Vontobel Asset Management Australia Pty

Limited and is referred to throughout this IM as the

‘Investment Manager’, ‘Distributor’, or ‘VAMAUS’. The

custodian and administrator of the Fund is The Northern

Trust Company (ABN 62 126 279 918 AFSL No 314970)

and is referred to throughout this IM as ‘NT’ ,‘Custodian’ or

‘Administrator’. This IM has not been and will not be lodged

with the Australian Securities and Investments

Commission ('ASIC'). It does not constitute a product

disclosure statement, prospectus or other disclosure

document within the meaning of the Corporations Act.

This IM is prepared for your general information only. It is

not intended to be a recommendation by the Responsible

Entity, VAMAUS, or any associate, employee, agent or

officer of the Responsible Entity, VAMAUS or any other

person to invest in the Fund. This IM does not take into

account the investment objectives, financial situation or

needs of any particular investor. You should not base your

decision to invest in the Fund solely on the information in

this IM. You should consider the suitability of the Fund in

view of your financial position and investment objectives

and needs and you may want to seek professional advice

before making an investment decision. A glossary of

important terms used in this IM can be found in the

‘Glossary of Important Terms’ section.

This IM does not constitute an offer of securities in the US

or to any US Person as defined in Regulation S under the

US Securities Act of 1933 as amended (US Securities Act).

The Units in the Fund have not been, and will not be,

registered under the US Securities Act or the laws of any

State, and the Fund is not registered as an investment

company under the US Investment Company Act of 1940,

as amended. The Fund may not be offered or sold in the

US to, or for, the account of any US Person (as defined)

except in a transaction that is exempt from the registration

requirements of the US Securities Act and applicable US

state securities laws.

The Responsible Entity, VAMAUS, the Custodian and

Administrator and their respective employees, agents or

officers do not guarantee the success, repayment of capital

or any rate of return on income or capital or investment

performance of the Fund. Past performance is no

indication of future performance. Units in the Fund are

offered and issued by the Responsible Entity subject to the

Constitution of the Fund, and on the terms and conditions

described in this IM. You should read this IM because you

will become bound by it if you become a Unit holder of the

Fund. The offer made in this IM is available only to persons

receiving this IM in Australia (electronically or otherwise)

who are Wholesale Clients and, for New Zealand investors

only, are also persons who qualify as ‘wholesale investors’

within the meaning of clause 3(2) of Schedule 1 of the

Financial Markets Conduct Act 2013 (FMCA) receiving this

IM in New Zealand (electronically or otherwise).

The offer is not to be treated as an offer to, and is not

capable of acceptance by, any person in New Zealand who

is not a Wholesale Investor. This IM has not been, and will

not be, lodged with the Registrar of Financial Service

Providers in New Zealand, and is not a product disclosure

statement under the FMCA. This offer is accordingly not a

regulated offer for the purposes of the FMCA and the Fund

is not registered in New Zealand.

New Zealand Wholesale Investors wishing to invest in the

Fund should be aware that different tax implications of

investing in the Fund may apply and they should seek their

own tax advice as necessary.

If you received this IM electronically a paper copy will be

provided free upon request. Please call VAMAUS on +61 2

9006 1282 for a copy.

Certain information in this IM relating to the Fund is subject

to change. Where considered appropriate by Equity

Trustees, we will notify you in writing of any changes. Any

updated information may be obtained:

by calling VAMAUS on +61 2 9006 1282; or

on Equity Trustees’ website at

www.eqt.com.au/insto

A paper copy of any updated information will be provided

free of charge on request.

Unless otherwise stated, all fees quoted in the IM are

inclusive of GST after allowing for an estimate for Reduced

Input Tax Credits (‘RITCs’). All amounts are in Australian

dollars unless otherwise specified and all references to

legislation are to Australian law unless otherwise specified.

New Zealand Investors: Selling Restriction

The offer made to New Zealand investors in this IM is only

available to, and is only capable of acceptance by, a

Wholesale Investor who has completed a wholesale

investor certification.

Each New Zealand investor acknowledges and agrees

that:

(a) he, she or it has not offered sold or transferred, and will

not offer, sell or transfer, directly or indirectly, any Units

in the Fund;

(b) he, she or it has not granted, issued or transferred, and

will not grant, issue or transfer, any interests in or

options over, directly or indirectly, any Units in the

Fund; and

http://www.eqt.com.au/insto


(c) he, she or it has not distributed and will not distribute,

directly or indirectly, this IM or any other offering

materials or advertisement in relation to any offer of

any Units in the Fund,

in each case in New Zealand other than to a person

who is a Wholesale Investor; and

(d) he, she or it will notify Equity Trustees if he, she or it

ceases to be a Wholesale Investor.

All references to Wholesale Investors in this document are

a reference to a ‘wholesale investor’ in terms of clause 3(2)

of the Financial Markets Conduct Act 2013 (New Zealand)

Contents

Glossary of important terms 4

Fund at a glance 5

About the Responsible Entity 6

About the Investment Manager 6

About the Custodian and Administrator 6

About the Vontobel mtx Sustainable Emerging Markets Leaders Fund 6

Managing risk 6

Investing and withdrawing 8

Keeping track of your investments 11

Fees and other costs 11

Taxation 12

Other important information 12

Appendix: Application Form


Glossary of important terms

Application Form – The application form used by

investors who wish to subscribe for Units in the Fund which

accompanies this IM.

ASIC – Australian Securities and Investments

Commission.

Business Day – A day other than a Saturday or Sunday

on which banks are open for general banking business in

Sydney and Melbourne.

Buy/Sell Spread – The Buy Spread is the difference

between the NAV per unit and the application price,

whereas the Sell Spread is the difference between the

NAV per unit and the withdrawal price of Units in the Fund.

Collectively this is known as the Buy/Sell Spread. The

Buy/Sell Spread reflects the estimated transaction costs

associated with buying and selling the assets of the Fund,

when investors invest in or withdraw from the Fund. The

purpose of the Buy/Sell Spread is to protect the interests of

non-transacting Unit holders of the Fund from dilution.

Constitution – The constitution of the Fund which sets out

the rights, responsibilities and beneficial interest of both

Unit holders and the Responsible Entity in relation to the

Fund.

Corporations Act – The Corporations Act 2001 (Cth) and

Corporations Regulations 2001 (Cth), as amended from

time to time.

Custodian/Administrator –The Northern Trust Company

(ABN 62 126 279 918 AFSL No 314970).

Derivatives – Generally, a derivative is a financial contract

whose value depends upon, or is derived from, the value of

an underlying asset, reference rate or index. Derivatives

may relate to equities, bonds, interest rates, currencies or

currency exchange rates, commodities, and related

indexes. Examples include options contracts, futures

contracts, options on futures contracts, and swap

agreements.

Developed Market - The Fund generally considers

“developed markets” to be those countries included in the

MSCI World Index.

Developing Country or Emerging Market - The Fund

considers a “developing country” or “emerging market” to

be countries considered as such by the World Bank, the

International Finance Corporation or the United Nations or

that are included in the MSCI Emerging Markets Index or

the MSCI Frontier Markets (FM) Index. Irrespective of

recognition by one of the abovementioned institutions,

emerging markets also include: Brazil, Chile, China,

Columbia, India, Indonesia, Malaysia, Mexico, Peru, the

Philippines, Poland, Russia, South Africa, South Korea,

Taiwan, Thailand, Turkey, Hong Kong, Argentina,

Uruguay, Venezuela, Singapore, Sri Lanka, Hungary,

Egypt, the Czech Republic, Romania, and Israel.

Distribution – The amount that is paid to Unit holders after

the end of a distribution period. This generally includes any

income and realised capital gains.

Equity Securities - Equity Securities include common

stocks (including American depository receipts, global

depository receipts or other types of depository receipt

equivalents and REITs) and securities convertible into

common stocks, such as warrants, rights, convertible

bonds, debentures or convertible preferred stock and cash

equivalents or pooled vehicles that provide exposure to

common stocks and securities convertible into common

stocks.

GST – Goods and Services Tax

Net Asset Value (NAV) – The value of the assets of the

Fund less the value of the liabilities of the Fund.

RITC – Reduced Input Tax Credit. Equity Trustees will

apply for reduced input tax credits on behalf of the Fund,

where applicable, to reduce the GST cost to the Fund.

Unit – A beneficial interest in the Fund.

Wholesale Client – Persons or entities defined as such

under the Corporations Act.

Wholesale Investor - In the case of a New Zealand

investor, has the meaning given in clause 3(2) of Schedule

1 of the New Zealand Financial Markets Conduct Act 2013.


Fund at a glance

Name of Fund Vontobel mtx Sustainable Emerging Markets Leaders Fund

ARSN 609 786 469

APIR ETL0468AU

Investment objective

The investment objective of the Fund is long term capital appreciation over a full market

cycle of between 3 to 5 years by investing in a portfolio of equities or equity-like

instruments of companies domiciled or having a majority of their business activity in an

Emerging Market.

Benchmark MSCI Emerging Markets Index, Net Dividends Reinvested

Investments While respecting the principle of risk diversification, the Fund’s assets are invested

mainly in equities, equity-like transferable securities, and participation certificates issued

by companies that are based in or conduct the majority of their business in an Emerging

Market and contribute towards sustainable economic activity.

Up to 33% of the Fund’s assets may be invested in Emerging Market-related companies

domiciled in Developed Markets.

The Fund may also hold up to 10% of its assets in cash and cash equivalents.

Minimum initial investment (AUD) 1 $10,000,000

Minimum additional investment

(AUD) 1

$5,000,000

Minimum balance (AUD) 1 $5,000,000

Minimum withdrawal (AUD) 1 $1,000,000

Access to funds

Withdrawal requests need to be received before 2pm each Wednesday. Any request

submitted before this deadline will usually be paid within 7 Business Days after the

withdrawal request has been processed.

Income distribution At least annually (as at 30 June)

Valuation and transacting Weekly

Management costs Up to 0.90% p.a. of the NAV of the Fund inclusive of GST less RITC

Performance fee Nil

Buy/Sell Spread Buy +0.30% / Sell -0.30%

Recommended minimum investment

timeframe 3 - 5 years

Investment Manager Vontobel Asset Management Australia Pty Limited

Distributor Vontobel Asset Management Australia Pty Limited

1. The Responsible Entity may alter any of the minimum

amounts specified at any time without prior notice to Unit

holders.


About the Responsible Entity

Equity Trustees Limited

Equity Trustees Limited ABN 46 004 031 298 AFSL 240975

(“Equity Trustees”), a subsidiary of EQT Holdings Limited

ABN 22 607 797 615, which is a public company listed on the

Australian Securities Exchange (ASX:EQT), is the Fund’s

Responsible Entity and issuer of this PDS. Established as a

trustee and executorial service provider by a special Act of the

Victorian Parliament in 1888, today Equity Trustees is a

dynamic financial services institution which continues to grow

the breadth and quality of products and services on offer.

Equity Trustees’ responsibilities and obligations as the Fund’s

Responsible Entity are governed by the Fund’s constitution

(“Constitution”), the Corporations Act and general trust law.

Equity Trustees has appointed Vontobel Asset Management

Australia Pty Limited as the investment manager of the Fund.

Equity Trustees has appointed a Custodian to hold the assets

of the Fund. The Custodian has no supervisory role in relation

to the operation of the Fund and is not responsible for

protecting your interests.

About the Investment Manager

Vontobel Asset Management Australia Pty Limited

Vontobel Asset Management Australia Pty Limited (ABN 80

167 015 698), is the holder of Australian financial services

licence number 453140 (“VAMAUS”). VAMAUS is the

Investment Manager and Distributor of the Fund. VAMAUS is

also an Overseas Financial Adviser within the meaning of the

Financial Advisers Act 2008 of New Zealand (“FAA”). Neither

VAMAUS nor any of its affiliates has a presence in New

Zealand.

VAMAUS is a wholly owned subsidiary of Vontobel Holding

AG and, therefore, is under common control by Vontobel

Holding AG. Vontobel Holding AG was first established in

Zurich in 1924. Vontobel Holding AG is an exchange listed

company with a strong core shareholder base. The Vontobel

families and the Vontobel Foundation hold the majority of

shares in the company.

The Investment Manager may appoint one or more of its

related entities to undertake investment activities on its behalf,

but retains ultimate responsibility for the investment of the

Fund.

About the Custodian and Administrator

The Northern Trust Company

Equity Trustees has appointed The Northern Trust Company

(ABN 62 126 279 918, AFSL No 314970) as custodian and

administrator of the Fund to provide a range of services

including custody and administration services for the assets of

the Fund.

About the Vontobel mtx Sustainable Emerging Markets

Leaders Fund

Investment Objective

The investment objective of the Fund is long term capital

appreciation over a full market cycle of between 3 to 5 years.

The Fund is benchmark unaware, however for performance

comparison purposes it is benchmarked against the MSCI

Emerging Markets Index, Net Dividends Reinvested (“Index”).

Investment Strategy

The Fund will seek to achieve its objective by investing mainly

in a portfolio of equities or equity-like instruments of

companies domiciled or having a majority of their business

activity in an Emerging Market and which we believe are

leading in their sector in terms of competitive position and

return on invested capital while also fulfilling sustainability

criteria.

Investment Guidelines

The Fund will keep sector and country weights within a 20%

maximum absolute range to the sector and country weights of

the Index at the time of investment. The Investment Manager

does not make conscious sector allocation decisions based

on specific sector weights in a given country. The Fund’s

assets will generally be fully invested at all times and will be

composed of approximately 30 to 50 Equity Securities. The

maximum position size is 10% of the Fund’s assets. This

range and position size may vary in proportion to (i) the

degree of undervaluation; (ii) the degree of confidence the

Investment Manager has in a company’s ability to realise its

full growth potential; and (iii) the stock’s liquidity.

While respecting the principle of risk diversification, the

Fund’s assets are invested mainly in equities, equity-like

transferable securities and participation certificates issued by

companies that are based in or conduct the majority of their

business in an Emerging Market and contribute towards

sustainable economic activity.

Up to 33% of the Fund’s assets may be invested in Emerging

Market-related companies domiciled in Developed Markets.

The Fund may also hold up to 10% of its assets in cash and

cash equivalents.

Managing risk

You should be aware that an investment in the Fund carries

risk and neither the performance of the Fund nor the security

of your capital is guaranteed by the Responsible Entity or the

Investment Manager.

Risks may include possible delays in the payment of

withdrawal proceeds, loss of income and capital and volatility

of returns.

We recommend you talk to an adviser about the risks involved

in investing in the Fund and how they might impact on your

individual financial circumstances.

The main risk factors which may affect the returns of the Fund

include, but are not limited to:

Market risk

There are inherent risks of adverse movements in the equity,

bond, cash, currency and commodity markets (including asset

prices, Derivatives, volatility or other market variables) and

specific risks of investing in equities (changing profitability of

companies and sectors, prevailing economic climate,

business sentiment, government and regulatory policies,

shares issued and investor demand).

The value of your investment and market price of investments

owned by the Fund may be affected by changes in legal and

economic policy, political events, technology failure, economic


cycles, investor sentiment and social climate, which can all

directly or indirectly create an environment that may influence

(negatively or positively) the value of your investments in the

Fund. Different factors may impact the value of individual,

class or country positions at different times. An adverse move

in the general level of the financial markets can have a

negative influence on the performance of the Fund. Neither

past nor expected performance should be taken as an

indication or guarantee of future performance.

Emerging Markets risk

In emerging markets, the legal, judicial and regulatory

infrastructure is still developing and there is much legal

uncertainty both for local market participants and their

overseas counterparts. Some markets may carry higher risks

for investors who should therefore ensure that, before

investing, they understand the risks involved and are satisfied

that an investment is suitable as part of their portfolio.

Political and/or regulatory risks

The value of the assets of the Fund may be affected by

uncertainties such as international political developments,

changes in government policies, changes in taxation,

restrictions on foreign investment and currency repatriation,

currency fluctuations and other developments in the laws and

regulations of countries in which investments may be made.

Furthermore, in certain countries in which investments may be

made, the legal and securities market infrastructure (including

the custodial, depository and securities settlement systems

operating in such countries) and the accounting, corporate

governance and reporting standards in such countries may

not provide the same degree of investor protection or

information to Unit holders as would generally apply in the

more major securities markets. As the Fund may invest in

markets having some or all of these characteristics, the

assets of the Fund which are traded in such markets may be

exposed to additional risk.

Derivative risk

The Fund may engage in transactions involving the use of

Derivatives such as futures, options, swaps and other

Derivatives for the purposes of hedging the Fund's foreign

currency exposure. The use of Derivatives may involve

substantial risk and leverage, which can magnify gains or

losses as compared to a direct investment in the underlying

assets, reference rate or index to which the Derivatives relate.

In addition there is the risk that changes in the value of the

Derivative held will not correlate with the underlying

instruments. Derivatives also involve the risk that a loss may

be sustained as a result of the failure of the counterparty to

make required payments or otherwise comply with the

Derivative’s terms. In addition to general market risks, many

Derivatives are subject to illiquidity risk, counterparty risk,

credit risk and pricing risk. Some Derivatives involve

economic leverage which could increase the volatility of these

investments as they may fluctuate more than the underlying

asset. Participation in Derivative trading normally requires

deposits to be paid and also margins to be paid on demand

should the positions move negatively.

Although unlikely to occur, the Fund’s losses could be

unlimited as a result of investing in Derivatives in the Fund’s

portfolio.

Liquidity risk

There may be times when securities may not be readily

saleable (for example, an exchange imposed limit on price

fluctuations on a particular day in both falling and rising

market conditions) and this may impact the investment and

markets to which the Fund has exposure. If there is an

interruption to regular trading in a market generally, or for a

particular investment to which the Fund has exposure, there

may be delays in processing withdrawal requests. Neither the

Responsible Entity nor the Investment Manager guarantees

the liquidity of the Fund’s investments or of investments in the

Fund.

Counterparty risk

Investments directly or indirectly made on behalf of the Fund

will be subject to the risk that a counterparty to a contract fails

to perform its contractual obligations. All transactions in listed

securities are processed using approved brokers and settled

(i.e. paid for) upon delivery. The risk of default is considered

minimal, as delivery of securities sold is only made once the

broker has received payment. Payment is made on a

purchase once the securities have been received by the

broker. The trade will fail if either party fails to meet its

obligation. The credit risk associated with the over-the-counter

foreign currency forward contracts is managed by ongoing

assessment of counterparties as to their creditworthiness,

financial strength, ownership, market share and management

quality with credit limits being established and subject to

ongoing review.

Equity-linked instruments risk

This is the risk that, in addition to market risk and other risks

of the referenced equity security, the Fund may experience a

return that is different from that of the referenced equity

security. Equity-linked instruments also subject the Fund to

counterparty risk, including the risk that the issuing entity may

not be able to honour its financial commitment, which could

result in a loss of all or part of the Fund’s investment.

Fund risk

Risks particular to the Fund include that it could terminate, the

fees and expenses could change, the Investment Manager or

Responsible Entity could be replaced and the investment

professionals could change. Additionally, investing in the

Fund may give different results than investing directly in the

underlying assets of the Fund itself due to a variety of reasons

including how income or capital gains may be accrued in the

Fund and the consequences of investment and withdrawal by

other investors.

Investment risk

The Fund invests in a number of markets which are subject to

a high degree of financial risk. The Investment Manager uses

an investment selection process to identify opportunities

which it believes are most likely to allow the Fund to meet its

investment objective over the medium to long term. Further,

the investment strategy allows the Investment Manager to


hold varying levels of exposure to different asset classes and

countries. The Fund may therefore have a more concentrated

exposure to some asset classes or countries and no exposure

to others. These investments may not perform in line with the

Investment Manager’s expectations and as a result there is a

risk that an investor may lose some or all of its investment in

the Fund.

An investment in the Fund carries risk and neither the

performance of the Fund nor the security of your capital is

guaranteed by the Responsible Entity or the Investment

Manager.

Investing in investment companies does not eliminate

investment risk. Closed-end investment companies and

Exchange Traded Funds (‘ETFs’) trade on securities

exchanges, and the market price for which such securities

trade may not correspond exactly with the net asset value of

the investment company. ETFs own stocks included in a

particular index and changes in the market price of ETFs

(before deducting the ETFs’ expenses) are generally

expected to track the movement of the associated index

relatively closely. However, the price movement of ETFs may

not perfectly parallel the price action of the associated indices.

Investments in other investment companies will cause the

Fund (and indirectly, the Unit holders) to bear proportionately

the costs incurred in connection with the other investment

companies’ operations.

Currency risk

The value of the Fund will be expressed in Australian dollars

however the Fund will have exposure to securities and

markets denominated in other currencies. The value of these

other currencies may move in different directions to the value

of the Australian dollar. Consequently, the value of the Fund

will fluctuate in accordance with changes in the foreign

exchange rates between the Australian dollar and the

currencies to which the Fund is exposed.

International risk

The risk of investing internationally includes country and/or

region specific risks such as: natural disasters; currency

exchange rates; political, economic and social instability;

market volatility and liquidity; less developed or efficient

trading markets; settlement and clearance procedures;

enforceability of laws (including tax); availability of

information; and differences in auditing, accounting and other

financial and legal reporting standards. These risks are

generally more pronounced in emerging market countries

rather than developed countries.

Legal and regulatory risk

Legal risk is the risk of losses occurring as a result of legal

issues, principally loss due to the non-enforcement of a

contract. This non-enforcement may arise from insufficient

documentation, insufficient capacity or authority of a

counterparty, uncertain legality or unenforceability in

bankruptcy or insolvency.

There is also risk that laws, including taxation laws, might

change or become difficult to enforce. Investing in foreign

markets with different legal and regulatory systems means

that foreign investments, particularly emerging markets, may

be exposed to more risk than Australian markets.

Investing and withdrawing

Investing in the Fund

Only Wholesale Clients and Wholesale Investors can apply

for Units in the Fund. The Fund is priced weekly. If we

receive a correctly completed Application Form, identification

documents (if applicable) and cleared application money:

— before 2pm Wednesday, the application will be processed

on that day. This means you will receive the application

price on Friday calculated as at Wednesday, and

— on or after 2pm on Wednesday, the application will be

processed the following week. This means you will re-

ceive the application price calculated for the following

Wednesday.

Making an application

To invest, please complete and sign the Application Form

accompanying this IM. New Zealand investors must also

complete the Wholesale Investor certification at the back of

the Application Form.

For initial applications the duly completed Application Form,

together with the relevant certified identification documents,

must be mailed to the Administrator via the following postal

address:

Vontobel mtx Sustainable Emerging Markets Leaders Fund

Unit Registry

GPO Box 804

Melbourne VIC 3001

Direct credit your application monies to:

Account Name: Equity Trustees ATF Vontobel Application

Account

BSB: 083-001

Account: 31 642 4109

If using direct credit, please send the original Application

Form via mail. Please note the application will not be

accepted until cleared funds are received and cash cannot be

accepted.

The minimum initial investment in the Fund is $10,000,000

unless otherwise authorised by the Responsible Entity.

For additional applications

Unit holders can apply for additional Units in the Fund, and

the minimum additional investment amount is $5,000,000 or

such other amount as the Responsible Entity determines from

time to time.

If payment is made by way of electronic transfer, then you

must complete and duly sign the Application Form and email it

to: [email protected]

Attention: Vontobel mtx Sustainable Emerging Markets

Leaders Fund Unit Registry

Then mail the original application form and relevant

identification documents to the Unit Registry:



Unit Registry

GPO Box 804

Melbourne VIC 3001

.

Under the Anti-Money Laundering and Counter- Terrorism

Financing Act 2006 applications made without providing all

the information and supporting identification documentation

requested on the Application Form cannot be processed until

all the necessary information has been provided. As a result

delays in processing your application may occur.

Equity Trustees reserves the right to refuse any application

without giving a reason. If for any reason Equity Trustees or

the Administrator refuses or is unable to process your

application to invest in the Fund, the Administrator will return

your application money to you, subject to regulatory

considerations, less any taxes or bank fees in connection with

the application. You will not be entitled to any interest on your

application money in this circumstance.

New Zealand Investors

Application requests received from New Zealand Wholesale

Investors must specify the application amounts in Australian

dollars. The Responsible Entity is unable to accept application

amounts quoted in New Zealand dollars.

Valuation of the Fund and application price of Units

The value of the investments of the Fund and Unit prices are

determined weekly.

The value of a Unit in the Fund reflects the value of the assets

of the Fund less the liabilities of the Fund and is determined in

accordance with the Constitution. The application price of a

Unit in the Fund is, in general terms, based on the NAV of the

Fund divided by the number of Units on issue. The application

price may also include an allowance for transaction costs

required for buying investments; this is known as the Buy

Spread. At the date of this IM, the Buy Spread is 0.30%. Refer

to 'Fees and Other Costs' for additional information on the

Buy Spread.

Making a withdrawal

Unit holders of the Fund can withdraw their investment by

written request by either: Sending it to:


Unit Registry

GPO Box 804

Melbourne VIC 3001

Or by sending it by email to

[email protected]

The minimum withdrawal amount is $1,000,000 or such other

amount as the Responsible Entity determines from time to

time. Refer below for ‘Terms and conditions for withdrawals’.

Withdrawal price

The withdrawal price of a Unit in the Fund is based on the

NAV of the Fund divided by the number of Units on issue. The

withdrawal price can be reduced by the Responsible Entity to

make an allowance for the transaction costs required for

selling investments which is known as the Sell Spread. At the

date of this IM, the Sell Spread is 0.30%. Refer to "Fees and

Other Costs" for additional information on the Sell Spread.

For in specie transfers of assets out of the Fund, a nil or

reduced Sell Spread may be applied to reflect the actual costs

incurred by the Fund. The investments of in specie transfers

will be valued on the date the Units are withdrawn. All costs

including any applicable duties and levies, incurred as a result

of the transfer will be payable by the Unit holder.

Access to funds

Withdrawal requests received before 2pm on a Wednesday

will be processed that day. Any withdrawal request received

on or after that time will be treated as having been received

the following week. Except where the Fund is not liquid, the

Responsible Entity will generally allow Unit holders of the

Fund to access their investment within 7 Business Days after

the withdrawal request has been processed. However, the

Constitution allows the Responsible Entity to make payment

up to 21 Business Days after accepting a withdrawal request

(which may be extended in unusual circumstances such as

when the Investment Manager is unable to satisfy a

redemption request due to suspended trading in the market

for an asset).

Fund liquidity

Where the Fund is not liquid (as defined in the Corporations

Act) a Unit holder does not have a right to withdraw from the

Fund and can only withdraw where the Responsible Entity

makes a withdrawal offer to Unit holders in accordance with

the Corporations Act. The Responsible Entity is not obliged to

make such offers. The Fund will be liquid if at least 80% of its

assets are liquid assets. Broadly, liquid assets are money in

an account or on deposit with a financial institution, bank

accepted bills, marketable securities, other prescribed

property and other assets that the Responsible Entity

reasonably expects can be realised for their market value

within the period specified in the Constitution for satisfying

redemption requests while the Fund is liquid.

Terms and conditions for withdrawals

The Responsible Entity is not required to give effect to a

withdrawal request if it is for less than the minimum

withdrawal amount determined by the Responsible Entity from

time to time and does not relate to the balance of a Unit

holder’s investment.

Equity Trustees has the right to fully redeem a Unit holder’s

investment in the Fund after giving the Unit holder notice,

where their holding falls below the minimum balance amount.

At the time of this IM, the minimum balance is $5,000,000.

Equity Trustees will refuse to comply with any withdrawal

request if the requesting party does not satisfactorily identify

themselves as the Unit holder. Withdrawal payments will not

be made to third parties (including authorised nominees) and

will only be paid directly to the Unit holder’s bank account held

in the name of the Unit holder at a branch of an Australian

domiciled bank. By lodging a facsimile withdrawal request the

Unit holder releases, discharges and agrees to indemnify


Equity Trustees from and against any and all losses, liabilities,

actions, proceedings, account claims and demands arising

from any facsimile withdrawal request.

The Unit holder also agrees that any payment made in

accordance with a facsimile withdrawal request shall be a

complete satisfaction of the obligations of Equity Trustees,

notwithstanding any fact or circumstance including that the

payment was made without the Unit holder’s knowledge or

authority. The Unit holder agrees that if the payment is made

in accordance with a facsimile withdrawal request, the Unit

holder and any person claiming through or under them shall

have no claim against Equity Trustees in relation to the

payment.

Withdrawal requests received from New Zealand investors

must specify:

— the withdrawal amount in Australian dollars; or

— the number of Units to be withdrawn.

We are unable to accept withdrawal amounts quoted in New

Zealand dollars. Please note that the withdrawal amount paid

to you will be in Australian dollars and may differ from the

amount you receive in New Zealand dollars due to foreign

exchange spreads between Australian and New Zealand

dollars (currency rate differs daily) and Overseas Telegraphic

Transfer (“OTT”) costs.

Distributions

A Distribution comprises a Unit holder’s share of any

distributable income earned by the Fund in which you have

invested. A Unit holder’s share of any distributable income is

generally based on the number of Units held by the Unit

holder at the end of the Distribution period.

Generally, the income entitlements of Unit holders of the Fund

are distributed within 15 days after the date they are

determined, although the Distribution at the end of a financial

year may take longer (for example, if there is a delay in

completing an audit).

If you are a Unit holder in the Fund, you can:

— have your Distribution reinvested back into the Fund in

which you have invested; or

— have your Distribution directly credited to your nominated

bank account.

If you do not make an election, your Distribution will

automatically be reinvested and will be taken to be received

prior to the next valuation time after the relevant Distribution

period. The Constitution provides for money payable to a Unit

holder to be held by the Responsible Entity for the Unit holder

or paid in accordance with the legislation relating to unclaimed

moneys, where the Responsible Entity attempts to pay the

money by electronic transfer and the electronic transfer fails

on 3 occasions.

New Zealand investors

If New Zealand investors elect to have their distribution paid in

cash, they will need to nominate a bank account held in their

own name with an Australian domiciled bank. Cash

distributions will only be paid in Australian dollars to such an

account.

Where New Zealand investors have their Distributions

reinvested into the Fund, they will be allotted Units in

accordance with the terms and conditions of this IM. The

reinvestment of Distributions is offered to New Zealand

investors on the following basis:

— At the time the price of the Units allotted pursuant to the

reinvestment of Distributions is set, the Responsible Entity

will not have any information that is not publicly available

that would, or would be likely to, have a material adverse

effect on the realisable price of the Units if the information

were publicly available.

— The right to acquire, or require the Responsible Entity to

issue, Units will be offered to all investors of the same

class, other than those resident outside New Zealand who

are excluded so as to avoid breaching overseas laws.

— Units will be issued on the terms disclosed to you, and will

be subject to the same rights as Units issued to all inves-

tors of the same class as you.

There is available from the Responsible Entity, on request

and free of charge, a copy of the most recent annual report of

the Fund, the most recent financial statements of the Fund,

the auditor’s reports on those financial statements, and the IM

and the Constitution for the Fund (including any

amendments). These documents (excluding the Constitution)

may be obtained by electronic means by contacting Equity

Trustees or by visiting www.eqt.com.au/insto.

Unit pricing discretions policy

Equity Trustees has developed a formal written policy in

relation to the guidelines and relevant factors taken into

account when exercising any discretion in calculating Unit

prices (including determining the value of assets and

liabilities). A copy of the policy and, where applicable and to

the extent required, any other relevant documents in relation

to the policy (such as records of any discretions which are

outside the scope of, or inconsistent with, the Unit pricing

policy) will be made available to Unit holders free of charge on

request.

Appointment of authorised nominee to operate account

Unit holders may elect to appoint an authorised nominee to

operate their account. The relevant sections on the

Application Form need to be completed, including the name

and signature of the authorised nominee, the signature of the

Unit holder and the date. Only Unit holders can appoint

authorised nominees. If you appoint an authorised nominee

we suggest that you ensure that:

— they cannot appoint another nominee; and

— the appointment lasts until cancelled by you in writing or

by the Responsible Entity.

If the Responsible Entity determines that the circumstances

require, the Responsible Entity may cancel an appointment by

giving the Unit holder 14 days notice in writing. If an

appointment is cancelled, the Responsible Entity will not be

obliged to act on the instructions of the authorised nominee. If

the instructions are varied, the Responsible Entity will act only

in accordance with the varied instructions. By completing and

lodging the relevant sections on authorised nominees on the

Application Form you release, discharge and agree to


indemnify the Responsible Entity from and against any and all

losses, liabilities, actions, proceedings, account claims and

demands arising from the Responsible Entity acting on the

instructions of your authorised nominee.

You also agree that any instructions of your authorised

nominee to the Responsible Entity, which are followed by the

Responsible Entity, shall be a complete satisfaction of the

obligations of the Responsible Entity, notwithstanding any fact

or circumstance, including that the instructions were made

without your knowledge or authority. You agree that if the

authorised nominee’s instructions are followed by the

Responsible Entity, you and any person claiming through or

under you shall have no claim against the Responsible Entity

in relation to the instructions.

Powers of an authorised nominee

An authorised nominee can, among other things:

— apply for additional investment Units;

— request that Distribution instructions be altered;

— change bank account details;

— withdraw all or part of your investment; and

— enquire as to the status of your investment and obtain

copies of statements.

Withdrawal payments will not be made to third parties. If a

company is appointed as an authorised nominee, the powers

will extend to any director and authorised officer of the

company. If a partnership, the powers will extend to all

partners.

Keeping track of your investments

Regular, simple to read reports are provided to Unit holders in

the Fund. These reports comprise:

— Annual Report including financial statements and audi-

tor’s report will be made available on the Equity Trustees

website at www.eqt.com.au/insto from 30 September

each year (you may elect to receive a hard copy of this

report by indicating this in the appropriate place on the

Application Form).

— Transaction Reports confirming all additional invest-

ments, withdrawals, and payments (issued following

transactions and on request).

— Distribution Statements - issued in line with Distribution

frequency, notifying you of the value of your investment,

income from investments and confirming the reinvestment

or payment to your nominated account.

— Tax Statements issued annually, providing Unit holders

with taxation information including a detailed summary of

the components of any Distributions.

The Fund is not currently a disclosing entity as defined by the

Corporations Act. If the Fund becomes a disclosing entity, it

will be subject to regular reporting and disclosure obligations.

Copies of documents lodged with ASIC in relation to the Fund

may be obtained from ASIC through ASIC’s website. Unit

holders will have a right to obtain a copy of any of the

following documents:

— the most recent annual financial report;

— any half yearly financial report lodged with ASIC; and

— any continuous disclosure notices lodged with ASIC.

You can contact VAMAUS for updated information on

performance, Unit prices, fund size and other general

information about the Fund:

Vontobel Asset Management Australia Pty Limited.

Level 20, Tower 2, 201 Sussex Street

Sydney NSW 2000

Telephone: +61 2 9006 1282

Fax: +61 2 9006 1010

Enquiries and Complaints

Equity Trustees seeks to resolve complaints over the

management of the Fund to the satisfaction of Unit holders. If

a Unit holder wishes to lodge a formal complaint please write

to:

Compliance Team

Equity Trustees Limited

GPO Box 2307

Melbourne VIC 3001

Australia

Email: [email protected]

Equity Trustees will respond within 14 days of receiving the

compliant and will seek to resolve your complaint as soon as

practicable but not longer than 45 days after receiving the

complaint.

Fees and other costs

Management costs

The Management Costs (including investment management

fees, Responsible Entity fees, custody fees, administration

fees, audit fees and other ordinary expenses related to the

establishment and operation of the Fund) are calculated

weekly and accrued daily based on the NAV of the Fund. The

Management Costs are reflected in the NAV and Unit price of

the Fund. Management Costs do not include transaction

costs and abnormal expenses.

The Management Costs applicable to Units in the Fund are

currently capped at 0.90% p.a. of the average NAV of the

Fund. If the Management Costs exceed the cap, a portion of

the fees paid to the Investment Manager will be deferred so

the Management Costs do not exceed this cap. In this

situation, the Investment Manager will have the right, for a

period of three (3) years following the relevant month, to be

paid the deferred amount by the Fund, provided the

Management Costs will not exceed the cap.

Further information regarding fees and other costs

Differential fees

From time to time the Investment Manager may negotiate

fees with investors that differ from those above. This will

generally relate to the size of the investment in the Fund.

Please contact VAMAUS if you wish to discuss the fees that

may apply to your investment.

Transaction and other costs

All government taxes such as stamp duty and GST will be

deducted from the Fund as appropriate. Relevant tax

information is provided in the ‘Taxation’ section. RITCs will

http://www.eqt.com.au/insto

mailto:[email protected]


also be claimed by the Fund where appropriate to reduce the

cost of GST to the Fund.

The Fund may incur transaction costs. These transaction

costs include brokerage, settlement costs (including custody

costs), clearing costs and stamp duty. Transaction costs

include costs incurred by the Fund when investors invest in or

withdraw from the Fund and when transacting to meet

investment objectives. These costs are an additional cost to

the investor but are generally reflected in the Unit price

(through the Buy/Sell Spread) and not charged separately to

the investor. Transaction costs which are not recovered

through the Buy/Sell Spread are deducted from the assets of

the Fund from time to time as they are incurred and are

reflected in the Unit price of the Fund.

The exact amount of transaction costs is dependent on a

number of different variables, including the level of trading

undertaken by the Fund.

If the Fund invests in a pooled vehicle, the underlying fund

may incur operating costs and expenses and the Fund will

bear a pro-rata share of these.

Buy/Sell Spread

The Buy/Sell Spread reflects the estimated transaction costs

associated with buying and selling the assets of the Fund

when investors invest in, or withdraw from, the Fund. The

Buy/Sell Spread is an additional cost to the investor but is

included in the Unit price and incurred when an investor

invests in or withdraws from the Fund and is not charged as

an additional fee. The Buy/Sell Spread is paid into the Fund

and not retained by Equity Trustees or the Investment

Manager. At the date of this IM, the Buy/Sell Spread for the

Fund is 0.30% (which equates to $3,000 for an investment or

withdrawal of $1,000,000).

Abnormal expenses

We may additionally recover abnormal expenses (such as the

costs of Unit holder meetings, legal advice/proceedings and

other irregular expenses). The Constitution does not place

any limit on the amount of the abnormal expenses that can be

paid from the Fund.

Alternative forms of remuneration

As a member of the Financial Services Council, the

Responsible Entity maintains an Alternate Forms of

Remuneration Register. The register, which you can review

by contacting us, outlines some alternative forms of

remuneration that we may pay to or receive from Australian

financial services licensees, fund managers or

representatives (if any are paid or received at all in relation to

the Fund).

Can the fees change?

All fees can change without Unit holder consent, subject to

the maximum fee amounts specified in the Constitution of the

Fund. Reasons might include changing economic conditions

and changes in regulation. We have the right to recover all

proper expenses incurred in managing the Fund and as such

these expenses may increase or decrease accordingly. We

will generally provide Unit holders with at least 30 days’

written notice of any proposed change to the Responsible

Entity fee. Expense recoveries and Buy/Sell Spreads may

change without notice, for example, when it is necessary to

protect the interests of existing Unit holders and if permitted

by law. The Constitution in some circumstances defines the

maximum fees that can be charged for some fees described

in this IM.

The maximum contribution fee the Fund can charge is 6%

(including GST). The maximum Responsible Entity fee is 2%

per annum (including GST) of the NAV of the Fund. There

are no maximum fee amounts defined for the other fee

components which make up the management costs of the

Fund.

Taxation

Investing in a registered managed investment scheme (such

as this Fund) is likely to have tax consequences. You are

strongly advised to seek your own professional tax advice

about the applicable Australian tax (including income tax,

GST and duty) consequences and, if appropriate, foreign tax

consequences which may apply to you based on your

particular circumstances before investing in the Fund.

The Fund is an Australian resident for tax purposes and does

not pay tax on behalf of its members. Australian resident

investors are assessed for tax on income and capital gains

generated by the Fund to which they become entitled.

Other important information

Cooling off period

No cooling off period applies to Units offered under this IM as

you must be a Wholesale Client or a Wholesale Investor to

invest in the Fund.

Unit holder’s liability

The Constitution for the Fund provides that unless there is a

separate agreement with a Unit holder, no Unit holder can be

called on to contribute to the assets of the Fund or to its

creditors if the Fund is liquidated or becomes insolvent.

Therefore it is expected that Unit holders will not be under any

obligation if a deficiency in the assets of the Fund was to

occur. However, this view has not been fully tested and so it is

not possible to give an absolute assurance that a Unit holder’s

liability will be limited in all circumstances.

In general, the liability of a Unit holder is limited to the amount

(if any) which remains unpaid in relation to their subscription

for Units in the Fund and certain amounts in respect of tax.

The Responsible Entity is permitted to deduct certain amounts

owed to the Responsible Entity from amounts payable to Unit

holders.

Non-listing of Units

The Units of the Fund are not listed on any stock exchange

and no application will be made to list the Units of the Fund on

any stock exchange.

Termination of the Fund

The Responsible Entity may resolve at any time to terminate,

liquidate and wind up the Fund in accordance with the Fund’s

Constitution and the Corporations Act. The Fund may

otherwise terminate if required by law. A notice will be


provided to Unit holders advising of the Fund’s termination.

Upon termination and after conversion of Fund assets into

cash and payment of, or provision for, all costs and liabilities

(actual and anticipated), the net proceeds will be distributed

pro-rata amongst all Unit holders according to the number of

Units they hold in the Fund.

Our legal relationship with you

You will receive Units in the Fund when you invest. Subject to

the rights, obligations and liabilities of a class, each Unit

represents an equal proportionate beneficial interest in the

assets of the Fund as a whole subject to liabilities, but does

not give you an interest in any particular assets or property of

the Fund.

Equity Trustees’ responsibilities and obligations, as the

Responsible Entity of the Fund, are governed by the

Constitution of the Fund as well as the Corporations Act and

general trust law. The Constitution contains a number of

provisions relating to the rights, terms, conditions and

obligations imposed on both Equity Trustees, as the

Responsible Entity, and Unit holders. Some of the provisions

of the Constitution are discussed elsewhere in this IM. Other

provisions relate to a Unit holder’s rights under the

Constitution, and include:

— a Unit holder’s right to share in any Fund income, and how

we calculate it;

— what you are entitled to receive when you withdraw or if

the Fund is wound up;

— a Unit holder’s right to withdraw from the Fund - subject to

the times when we can cease processing withdrawals -

such as if the Fund becomes ‘illiquid’;

— the nature of the Units - identical rights attach to all Units

within a class; and

— a Unit holder’s rights to attend and vote at meetings –

these provisions are mainly contained in the Corporations

Act.

There are also provisions governing our powers and duties,

including:

— how we calculate Unit prices, the maximum amount of

fees we can charge and expenses we can recover;

— when we can amend the Constitution - generally we can

only amend the Constitution where we reasonably believe

that the changes will not adversely affect Unit holders’

rights. Otherwise the Constitution can only be amended if

approved at a meeting of Unit holders;

— when we can retire as the Responsible Entity of the Fund

- when permitted by law;

— when we can be removed as the Responsible Entity of the

Fund - which is when required by law; and

— our broad powers to invest, borrow money and generally

manage the Fund - we do not currently intend to borrow

funds to acquire assets for the Fund, although this is per-

mitted under the Constitution of the Fund.

The Constitution also deals with our liabilities in relation to the

Fund and when we can be reimbursed out of the Fund’s

assets, for example:

— subject to the Corporations Act, we are not liable for act-

ing in reliance and good faith on professional advice;

— subject to the Corporations Act, we are not liable for any

loss unless we fail to act in good faith or we act negligent-

ly; and

— we can be reimbursed for any liabilities we incur in con-

nection with the proper performance of our powers and

duties in respect of the Fund.

As mentioned above, Equity Trustees’ responsibilities and

obligations as the Responsible Entity of the Fund are

governed by the Constitution as well as the Corporations Act

and general trust law, which generally require that we:

— act in the best interests of Unit holders and, if there is a

conflict between Unit holders’ interests and our own, give

priority to Unit holders;

— ensure the property of the Fund is clearly identified, held

separately from other funds and our assets, and is valued

regularly;

— ensure payments from the Fund’s property are made in

accordance with the Constitution and the Corporations

Act; and

— report to ASIC any breach of the Corporations Act in

relation to the Fund which has had, or is likely to have, a

materially adverse effect on Unit holders’ interests.

Copies of the Constitution are available, free of charge, on

request from Equity Trustees.

Compliance Plan

Equity Trustees has prepared and lodged a compliance plan

for the Fund with ASIC. The compliance plan describes the

procedures used by Equity Trustees to comply with the

Corporations Act and the Constitution of the Fund. Each year

the compliance plan for the Fund is audited and the audit

report is lodged with ASIC.

Indemnity

Equity Trustees, as the Responsible Entity of the Fund, is

indemnified out of the Fund against all liabilities incurred by it

in properly performing or exercising any of its powers or

duties in relation to the Fund. To the extent permitted by the

Corporations Act, this indemnity includes any liability incurred

as a result of any act or omission of a delegate or agent

appointed by the Responsible Entity. Equity Trustees may

retain and pay out any monies in its hands all sums necessary

to effect such an indemnity.

Related party transactions

The Responsible Entity and its associates are entitled to enter

into or be interested on their own account in any transactions

entered into on behalf of the Fund or with any company or

body in which the Fund is invested or who provides services

to the Fund. Any such transactions will be on arms length

commercial terms. The Responsible Entity and its associates

are also permitted to hold Units in the Fund in any capacity.

Investment Manager consents

VAMAUS has given, and at the date of this IM has not

withdrawn, its written consent;

— to be named in this IM as the Investment Manager and

Distributor of the Fund; and


— to the inclusion of the statements made about it, the Fund

and to the statistical information attributed to it in the form

and context in which this information appears.

VAMAUS has not otherwise been involved in the preparation

of this IM, nor have they caused or otherwise authorised the

issue of this IM. Neither VAMAUS nor their employees or

officers accept any responsibility arising in any way for errors

or omissions from this IM, other than in relation to the

statements for which they have provided consent.

Privacy

The Privacy Act 1988 (Privacy Act) and the Australian Privacy

Principles regulate the way organisations collect, use,

disclose, keep, secure and give people access to their

personal information. At Equity Trustees we are committed to

respecting the privacy of your personal information throughout

the information lifecycle and our Privacy Policy details how we

do this.

Equity Trustees may collect personal information about you

and individuals associated with you in order to provide

products and services to you, and to ensure compliance with

legal and regulatory obligations (including under the

Corporations Act, the AML/CTF Act and tax related

legislation). You must ensure that all personal information

which you provide to Equity Trustees is true and correct in

every detail, and should those personal details change it is

your responsibility to ensure that you promptly advise Equity

Trustees of the changes in writing. If you do not provide the

information requested we may not be able to process your

application, administer, manage, invest, pay or transfer your

investment(s). We may also obtain or confirm information

about you from publicly available sources in order to meet

regulatory obligations.

Equity Trustees may disclose your information to other

members of our corporate group or to third parties, where it is

necessary, in order to provide you with the products or

services. Those third parties may be situated in Australia or

offshore, and we take reasonable steps to ensure that all third

parties with whom we have a contractual relationship or other

influence comply with the Australian Privacy Principles.

The third parties that we may disclose your information to

include, but are not limited to:

• stockbrokers, financial advisers or adviser dealer

groups, their service providers and/or any joint holder of an

investment;

• those providing services for administering or

managing the Fund, including the Investment Manager,

Custodian and Administrator, auditors, or those that provide

mailing or printing services;

• those where you have consented to the disclosure

and as required by law; and

• regulatory bodies such as ASIC, ATO, APRA and

AUSTRAC.

Equity Trustees or the Investment Manager may from time to

time provide you with direct marketing and/or educational

material about products and services they believe may be of

interest to you. You have the right to “opt out” by contacting

Equity Trustees.

Equity Trustees’ Privacy Policy contains information about

how you can access information held about you, seek a

correction if necessary, make a complaint if you think there

has been a breach of your privacy and about how Equity

Trustees will deal with your complaint.

Full details of Equity Trustees’ Privacy Policy is available at

www.eqt.com.au. You can contact Equity Trustees’ Privacy

Officer on +61 3 8623 5000, or email to [email protected]

to request a copy.

Information on underlying investments

Information regarding the underlying investments of the Fund

will be provided to an investor of the Fund on request, to the

extent Equity Trustees is satisfied that such information is

required to enable the investor to comply with its statutory

reporting obligations. This information will be supplied within a

reasonable timeframe having regard to these obligations.

Foreign Account Tax Compliance Act (“FATCA”)

In April 2014, the Australian Government signed an

intergovernmental agreement (“IGA”) with the United States of

America (“U.S.”), which requires all Australian financial

institutions to comply with the FATCA Act enacted by the U.S.

in 2010.

Under FATCA, Australian financial institutions are required to

collect and review their information to identify U.S. residents

that invest in assets through non-U.S. entities. This

information is reported to the Australian Taxation Office

(“ATO”). The ATO may then pass that information onto the

U.S. Internal Revenue Service.

In order to comply with the FATCA obligations, we may

request certain information from you. Failure to comply with

FATCA obligations may result in the Fund, to the extent

relevant, being subject to a 30% withholding tax on payment

of U.S. income or gross proceeds from the sale of certain U.S.

investments. If the Fund suffers any amount of FATCA

withholding and is unable to obtain a refund for the amounts

withheld, we will not be required to compensate unitholders

for any such withholding and the effect of the amounts

withheld will be reflected in the returns of the Fund.

Common Reporting Standard (“CRS”)

The CRS is a standardised set of rules developed by the

Organisation of Economic Co-operation and Development

that requires certain financial institutions resident in a

participating jurisdiction to document and identify reportable

accounts and implement due diligence procedures. These

financial institutions will also be required to report certain

information on reportable accounts to their relevant local tax

authorities.

Australia signed the CRS Multilateral Competent Authority

Agreement and has enacted provisions within the domestic

tax legislation to implement CRS in Australia. Australian

financial institutions need to document and identify reportable

accounts, implement due diligence procedures and report

certain information with respect to reportable accounts to the


ATO. The ATO may then exchange this information with

foreign tax authorities in the relevant signatory countries.

In order to comply with the CRS obligations, we may request

certain information from you. Unlike FATCA, there is no

withholding tax that is applicable under CRS. However,

penalties may apply for failing to comply with the CRS

obligations.

Anti-Money Laundering and Counter Terrorism Financing (“AML/CTF”) Australia’s AML/CTF laws require Equity Trustees to adopt and maintain an AML/CTF Program. A fundamental part of the AML/CTF Program is that Equity Trustees knows certain information about investors in the Fund. To meet this legal requirement, we need to collect certain identification information and documentation (“KYC Docu-ments”) from new investors. Existing investors may also be asked to provide KYC Documents as part of a re-identification process to comply with AML/CTF laws. Processing of applica-tions will be delayed or refused if investors do not provide the applicable KYC Documents when requested. Under the AML/CTF laws, Equity Trustees is required to submit regulatory reports to AUSTRAC. This may include the disclosure of your personal information. Equity Trustees may not be able to tell you when this occurs. The Responsible Entity shall not be liable for any loss you may suffer because of compliance with the AML/CTF laws.

Equity Trustees Application Form – 2018

Section 3 – Investor details – Individuals/Joint Please complete if you are investing individually, jointly or you are an individual or joint trustee.

See Group A AML/CTF Identity Verification Requirements in Section 9

Investor 1 Title First name(s) Surname

Residential address (not a PO Box/RMB/Locked Bag)

Suburb State Postcode Country

Email address Contact no.

Date of birth (DD/MM/YYYY) Tax File Number* – or exemption code

/ /

Country of birth Occupation

Investor 2 Title First name(s) Surname




Date of birth (DD/MM/YYYY) Tax File Number* – or exemption code

/ /

Country of birth Occupation

If there are more than 2 beneficial owners, please provide details as an attachment.

Do any of the investors named hold a prominent public position or function in a government body (local, state, territory, national or foreign) or in an international organisation or are you an immediate family member or a business associate of such a person?

No Yes, please give details:


Section 4 – Investor details – Companies/Corporate Trustee Please complete if you are investing for a company or where the company is acting as trustee.

See Group B AML/CTF Identity Verification Requirements in Section 9 Full company name (as registered with ASIC or relevant foreign registered body)

Registered office address (not a PO Box/RMB/Locked Bag)


Australian Company Number Tax File Number* – or exemption code

Australian Business Number* (if registered in Australia) or equivalent foreign company identifier

Contact Person Title First name(s) Surname


Principal place of business: For non-Australian companies please provide a local agent name and address if you do not have a principal place of business in Australia. Registered Office Address (not a PO Box/RMB/Locked Bag)


Registration details Name of regulatory body Identification number (e.g. ARBN)

Beneficial owners

All beneficial owners will need to provide Group A AML/CTF Identity Verification Requirements in Section 9

Shareholders and other beneficial owners (shareholders and those who own directly, indirectly, jointly or beneficially 25% or more of the company’s issued capital).

Beneficial owner 1 Title First name(s) Surname



Date of birth (DD/MM/YYYY)

/ /






/ /


Do any of the beneficial owners named hold a prominent public position or function in a government body (local, state, territory, national or foreign) or in an international organisation or are you an immediate family member or a business associate of such a person?


Senior Managing Official and controlling person (e.g. managing directors, senior executive etc. who are authorised to sign on the company’s behalf, make policy, operational and financial decisions)

1 2

3 4


Section 5 – Investor Details – Trusts/superannuation funds Please complete if you are investing for a trust or superannuation fund.

See Group C AML/CTF Identity Verification Requirements in section 9 Full name of trust or superannuation fund

Full name of business (if any) Country where established

Australian Business Number* (if obtained)

Tax File Number* – or exemption code

Trustee details - How many trustees are there?

Individual trustee(s) – complete section 3 – Investor details – Individuals/Joint

Company trustee(s) – complete section 4 – Investor details – Companies/Corporate Trustee

Combination – trustee(s) to complete each relevant section

Type of Trust

Registered Managed Investment Scheme

Australian Registered Scheme Number (ARSN)

Regulated Trust (including self-managed superannuation funds and registered charities that are trusts)

Name of Regulator (e.g. ASIC, APRA, ATO, ACNC)

Registration/Licence details

Other Trust (unregulated) Please describe

Beneficiaries of an unregulated trust Please provide details below of any beneficiaries who directly or indirectly are entitled to an interest of 25% or more of the trust.

1 2

3 4

If there are no beneficiaries of the trust, describe the class of beneficiary (e.g. the name of the family group, class of unit holders, the charitable purpose or charity name):

Please provide the full name of the settlor of the trust where the initial asset contribution to the trust was greater than $10,000 and the settlor is not deceased:

Beneficial owners of an unregulated trust Please provide details below of any beneficial owner of the trust. A beneficial owner is any individual who directly or indirectly has a 25% or greater interest in the trust or a person who exerts control over the trust. This includes the appointer of the trust who holds the power to appoint or remove the trustees of the trust.


All beneficial owners will need to provide Group A AML/CTF Identity Verification Requirements in Section 9





/ /





/ /


Do any of the beneficial owners named hold a prominent public position or function in a government body (local, state, territory, national or foreign) or in an international organisation or are you an immediate family member or a business associate of such a person?



Section 6 – Authorised representative, agent and/or financial adviser Please complete if you are appointing an authorised representative, agent and/or financial adviser.

I am an authorised representative or agent as nominated by the investor(s)

See Group D AML/CTF Identity Verification Requirements in Section 9 You must attach a valid authority such as Power of Attorney, guardianship order, grant of probate, appointment of bankruptcy etc. that is a certified copy. The document must be current and complete, signed by the investor or a court official and permits the authorised representative or agent to transact on behalf of the investor.

Full name of authorised representative or agent

Role held with investor(s)

Signature Date

I am a financial adviser as nominated by the investor

Name of adviser AFSL number

Dealer group Name of advisory firm

Postal address

Suburb State Postcode


Financial Adviser Declaration I/We hereby declare that I/we are not a US Person as defined in the PDS/IM. I/We hereby declare that the investor is not a US Person as defined in the PDS/IM. I/We have completed an appropriate Customer Identification Procedure (CIP) on this investor

which meets the requirements (per type of investor) set out above, AND EITHER

I/We have attached the relevant CIP documents; OR I/We have not attached the CIP documents however I/We confirm that I have completed the

AML/KYC checks on the investor(s) in accordance to the AUSTRAC’s requirements. I/We also agree to provide Equity Trustees the relevant CIP documents on request.

Signature Date

Access to information Unless you elect otherwise, your authorised representative, agent and/or financial adviser will be provided access to your investment information and/or receive copies of statements and transaction confirmations. By appointing an authorised representative, agent and/or financial adviser you acknowledge that you have read and agreed to the terms and conditions in the PDS/IM relating to such appointment.

Please tick this box if you DO NOT want your authorised representative, agent and/or financial adviser to have access to information about your investment.

Please tick this box if you DO NOT want copies of statements and transaction confirmations sent to your authorised representative, agent and/or financial adviser.

Please tick this box if you want statements and transaction confirmations sent ONLY to your authorised representative, agent and/or financial adviser.


Section 7 – Foreign Account Tax Compliance Act (FATCA), Common Reporting Standard (CRS) Self-Certification Form – ALL investors MUST complete

Sub-Section I - Individuals Please fill this Sub-Section I only if you are an individual. If you are an entity, please fill Sub-Section II.

1. Are you a US citizen or resident of the US for tax purposes?

Yes: provide your Taxpayer Identification Number (TIN) or equivalent (or Reason Code if no TIN is provided) below and continue to question 2

Investor 1 Investor 2

No: continue to question 2

2. Are you a tax resident of any other country outside of Australia?

Yes: state each country and provide your TIN or equivalent (or Reason Code if no TIN is provided) for each jurisdiction below and skip to question 12

Investor 1 Investor 2 If more space is needed please provide details as an attachment.

No: skip to question 12

Reason Code: If TIN or equivalent is not provided, please provide reason from the following options:

• Reason A: The country/jurisdiction where the entity is resident does not issue TINs to its residents. • Reason B: The entity is otherwise unable to obtain a TIN or equivalent number (Please explain why the

entity is unable to obtain a TIN in the below table if you have selected this reason). • Reason C: No TIN is required. (Note. Only select this reason if the domestic law of the relevant

jurisdiction does not require the collection of the TIN issued by such jurisdiction).

If Reason B has been selected above, explain why you are not required to obtain a TIN:


Sub-Section II - Entities Please fill this Sub-Section II only if you are an entity. If you are an individual, please fill Sub-Section I.

3. Are you an Australian complying superannuation fund?

Yes: skip to question 12


FATCA 4. Are you a US Person?

Yes: continue to question 5


5. Are you a Specified US Person?

Yes: provide your TIN below and skip to question 7

No: indicate exemption type and skip to question 7

6. Are you a Financial Institution for the purposes of FATCA?

Yes: provide your Global Intermediary Identification Number (GIIN)

If you do not have a GIIN, please provide your FATCA status below and continue to question 7

Exempt Beneficial Owner, provide type below:


Deemed-Compliant FFI (other than a Sponsored FI or a Trustee Documented Trust),

provide type below:

Non-Participating FFI, provide type below:

Sponsored Financial Institution. Please provide the Sponsoring Entity’s name and GIIN:

Trustee Documented Trust. Please provide your Trustee’s name and GIIN:

Other, provide details:


CRS 7. Are you a tax resident of any country outside of Australia and the US?

Yes: state each country and provide your TIN or equivalent (or Reason Code if no TIN is provided) for each jurisdiction below and continue to question 8

Investor 1 Investor 2 If more space is needed please provide details as an attachment.







8. Are you a Financial Institution for the purpose of CRS?

Yes: specify the type of Financial Institution below and continue to question 9

Reporting Financial Institution Non-Reporting Financial Institution:

Trustee Documented Trust Other: please specify:

9. Are you an investment entity resident in a non-participating jurisdiction for CRS purposes and managed by another financial Institution?

Yes: skip to question 11


Non-Financial Entities 10. Are you an Active Non-Financial Entity (Active NFE)?

Yes: specify the type of Active NFE below and skip to question 12: Less than 50% of the Active NFE’s gross income from the preceding calendar year is

passive income (e.g. dividends, distribution, interests, royalties and rental income) and less than 50% of its assets during the preceding calendar year are assets held for the production of passive income

Corporation that is regularly traded or a related entity of a regularly traded corporation




Governmental Entity, International Organisation or Central Bank Other: please specify:

No: you are a Passive Non-Financial Entity (Passive NFE). Continue to question 11

Controlling Persons 11. Does one or more of the following apply to you: • Is any natural person that exercises control over you (for corporations, this would include directors or

beneficial owners who ultimately own 25% or more of the share capital) a tax resident of any country outside of Australia?

• If you are a trust, is any natural person including trustee, protector, beneficiary, settlor or any other natural person exercising ultimate effective control over the trust a tax resident of any country outside of Australia?

Controlling person 1 Title First name(s) Surname




/ /

Country of tax residence

TIN or equivalent Reason Code if no TIN provided

Controlling person 2 Title First name(s) Surname




/ /

Country of tax residence

TIN or equivalent Reason Code if no TIN provided

If there are more than 2 controlling persons, please provide details as an attachment.









12. Signature and Declaration – ALL investors must sign I undertake to provide a suitably updated self-certification within 30 days of any change in

circumstances which causes the information contained herein to become incorrect. I declare the information above to be true and correct.

Investor 1 Investor 2 Name of individual/entity Name of individual/entity

Name of authorised representative Name of authorised representative Signature Signature

Date Date


Section 8 – Declarations – ALL investors MUST complete In most cases the information that you provide in this form will satisfy the AML/CTF Act, the US Foreign Account Tax Compliance Act (‘FATCA’) and the Common Reporting Standards (‘CRS’). However, in some instances the Responsible Entity may contact you to request further information. It may also be necessary for the Responsible Entity to collect information (including sensitive information) about you from third parties in order to meet its obligations under the AML/CTF Act, FATCA and CRS.

When you complete this Application Form you make the following declarations:

• I/We have received the PDS/IM and made this application in Australia (and/or New Zealand for those offers made in New Zealand).

• I/We have read the PDS/IM to which this Application Form applies and agree to be bound by the terms and conditions of the PDS/IM and the Constitution of the relevant Fund/Trust in which I/we have chosen to invest.

• I/We have considered our personal circumstances and, where appropriate, obtained investment and/or taxation advice.

• I/We hereby declare that I/we are not a US Person as defined in the PDS/IM.

• I/We acknowledge that (if a natural person) I am/we are 18 years of age or over and I am/we are eligible to hold units in the Fund/Trust in which I/We have chosen to invest.

• I/We acknowledge and agree that Equity Trustees has outlined in the PDS/IM provided to me/us how and where I/we can obtain a copy of the Equity Trustees Group Privacy Statement.

• I/We consent to the transfer of any of my/our personal information to external third parties including but not limited to fund administrators, fund investment manager(s) and related bodies corporate who are located outside Australia for the purpose of administering the products and services for which I/we have engaged the services of Equity Trustees or its related bodies corporate and to foreign government agencies for reporting purposes (if necessary).

• I/we hereby confirm that the personal information that I/we have provided to Equity Trustees is correct and current in every detail, and should these details change, I/we shall promptly advise Equity Trustees in writing of the change(s).

• I/We agree to provide further information or personal details to the Responsible Entity if required to meet its obligations under anti-money laundering and counter-terrorism legislation, US tax legislation or reporting legislation and acknowledge that processing of my/our application may be delayed and will be processed at the unit price applicable for the Business Day as at which all required information has been received and verified.

• If I/we have provided an email address, I/we consent to receive ongoing investor information including PDS/IM information, confirmations of transactions and additional information as applicable via email.

• I/We acknowledge that Equity Trustees does not guarantee the repayment of capital or the performance of the Fund/Trust or any particular rate of return from the Fund/Trust.

• I/We acknowledge that an investment in the Fund/Trust is not a deposit with or liability of Equity Trustees and is subject to investment risk

including possible delays in repayment and loss of income or capital invested.

• I/We acknowledge that Equity Trustees is not responsible for the delays in receipt of monies caused by the postal service or the investor’s bank.

• If I/we lodge a fax application request, I/we acknowledge and agree to release, discharge and agree to indemnify Equity Trustees from and against any and all losses, liabilities, actions, proceedings, account claims and demands arising from any fax application.

• If I/we have completed and lodged the relevant sections on authorised representatives, agents and/or financial advisers on the Application Form then I/we agree to release, discharge and indemnify Equity Trustees from and against any and all losses, liabilities, actions, proceedings, account claims and demands arising from Equity Trustees acting on the instructions of my/our authorised representatives, agents and/or financial advisers.

• If this is a joint application each of us agrees that our investment is held as joint tenants.

• I/We acknowledge and agree that where the Responsible Entity, in its sole discretion, determines that: o I/we are ineligible to hold units in a

Fund/Trust or have provided misleading information in my/our Application Form; or

o I/we owe any amounts to Equity Trustees, then I/we appoint the Responsible Entity as my/our agent to submit a withdrawal request on my/our behalf in respect of all or part of my/our units, as the case requires, in the Fund/Trust.

• For Wholesale Clients - I/We acknowledge that I am/we are a Wholesale Client (as defined in Section 761G of the Corporations Act 2001 (Cth)) and are therefore eligible to hold units in the Fund/Trust.

• For New Zealand applicants - I/we have read the terms of the offer relating to New Zealand investors, including the New Zealand warning statement.

• For New Zealand Wholesale Investors - I/We acknowledge and agree that:

• I/We have read the “New Zealand Wholesale Investor Fact Sheet” and PDS/IM or “New Zealand Investors: Selling Restriction” for the Fund/Trust;

• I am/We are a Wholesale Investor and am/are therefore eligible to hold units in the Fund/Trust; and

• I/We have not: o Offered, sold, or transferred, and will not

offer, sell, or transfer, directly or indirectly, any units in the Fund/Trust;


o Granted, issued, or transferred, and will not grant, issue, or transfer, any interests in or options over, directly or indirectly, any units in the Fund/Trust; and

o Distributed and will not distribute, directly or indirectly, the PDS/IM or any other offering materials or advertisement in relation to any offer of units in the Fund/Trust,

in each case in New Zealand, other than to a person who is a Wholesale Investor; and

• I/We will notify Equity Trustees if I/we cease to be a Wholesale Investor; and

• I/We have separately provided a signed Wholesale Investor Certification located at the end of this Application Form.

• All references to Wholesale Investor in this Declaration are a reference to Wholesale Investor in terms of clause 3(2) of Schedule 1 of the Financial Markets Conduct Act 2013 (New Zealand).

*Terms and conditions for collection of Tax File Numbers (TFN) and Australian Business Numbers (ABN) Collection of TFN and ABN information is authorised and its use and disclosure strictly regulated by tax laws and the Privacy Act. Investors must only provide an ABN instead of a TFN when the investment is made in the course of their enterprise. You are not obliged to provide either your TFN or ABN, but if you do not provide either or claim an exemption, we are required to deduct tax from your distribution at the highest marginal tax rate plus Medicare levy to meet Australian taxation law requirements.

For more information about the use of TFNs for investments, contact the enquiries section of your local branch of the ATO. Once provided, your TFN will be applied automatically to any future investments in the Fund/Trust where formal application procedures are not required (e.g. distribution reinvestments), unless you indicate, at any time, that you do not wish to quote a TFN for a particular investment. Exempt investors should attach a copy of the certificate of exemption. For super funds or trusts list only the applicable ABN or TFN for the super fund or trust.

When you sign this Application Form you declare that you have read, agree to and make the declarations above

Investor 1 Investor 2 Name of individual /entity Name of individual/entity

Capacity (e.g. Director, Secretary, Authorised signatory)


Signature Signature

Date Date

Company Seal (if applicable)


Section 9 – AML/CTF Identity Verification Requirements

The AML/CTF Act requires the Responsible Entity to adopt and maintain an anti-money laundering and counter-terrorism financing ('AML/CTF') program. The AML/CTF program includes ongoing customer due diligence, which may require the Responsible Entity to collect further information.

• Identification documentation provided must be in the name of the investor. • Non-English language documents must be translated by an accredited translator. • Applications made without providing this information cannot be processed until all the necessary

information has been provided. • If you are unable to provide the identification documents described please contact Equity Trustees.

These documents should be provided as an original or a CERTIFIED COPY of the original.

Who can certify? Below is an example of who can certify proof of ID documents under the AML/CTF requirements:

• Bailiff • Bank officer with 5 or more years of

continuous service • Building society officer with 5 or more years

of continuous service • Chiropractor (licensed or registered) • Clerk of court • Commissioner for Affidavits • Commissioner for Declarations • Credit union officer with 5 or more years of

continuous service • Dentist (licensed or registered) • Fellow of the National Tax Accountant's

Association • Finance company officer with 5 or more years

of continuous service • Judge of a court • Justice of the peace • Legal practitioner (licensed or registered) • Magistrate • Marriage celebrant licensed or registered

under Subdivision C of Division 1 of Part IV of the Marriage Act 1961

• Master of a court • Medical practitioner (licensed or registered) • Member of Chartered Secretaries Australia • Member of Engineers Australia, other than at

the grade of student • Member of the Association of Taxation and

Management Accountants

• Member of the Australian Defence Force with 5 or more years of continuous service

• Member of the Institute of Chartered Accountants in Australia, the Australian Society of Certified Practicing Accountants or the Institute of Public Accountants

• Member of the Parliament of the Commonwealth, a State, a Territory Legislature, or a local government authority of a State or Territory

• Minister of religion licensed or registered under Subdivision A of Division 1 of Part IV of the Marriage Act 1961

• Nurse (licensed or registered) • Optometrist (licensed or registered) • Permanent employee of Commonwealth,

State or local government authority with at least 5 or more years of continuous service.

• Permanent employee of the Australian Postal Corporation with 5 or more years of continuous service

• Pharmacist (licensed or registered) • Physiotherapist (licensed or registered) • Police officer • Psychologist (licensed or registered) • Registrar, or Deputy Registrar, of a court • Sheriff • Teacher employed on a full-time basis at a

school or tertiary education institution • Veterinary surgeon (licensed or registered)

When certifying documents, the following process must be followed: • All copied pages of original proof of ID documents must be certified. • The authorised individual must ensure that the original and the copy are identical; then write or stamp

on the copied document “certified true copy”. This must be followed by the date and signature, printed name and qualification of the authorised individual.

• In cases where an extract of a document is photocopied to verify customer ID, the authorised individual should write or stamp “certified true extract”


GROUP A – Individuals/Joint

Each individual investor, individual trustee, beneficial owner, or individual agent or authorised representative must provide one of the following primary photographic ID:

A current Australian driver’s licence (or foreign equivalent) that includes a photo and signature. An Australian passport (or foreign equivalent) (not expired more than 2 years previously). An identity card issued by a State or Territory Government that includes a photo.

If you do NOT own one of the above ID documents, please provide one valid option from Column A and one valid option from Column B.

Column A Column B

Australian birth certificate.

Australian citizenship certificate.

Pension card issued by Department of Human Services.

A document issued by the Commonwealth or a State or Territory within the preceding 12 months that records the provision of financial benefits to the individual and which contains the individual’s name and residential address.

A document issued by the Australian Taxation Office within the preceding 12 months that records a debt payable by the individual to the Commonwealth (or by the Commonwealth to the individual), which contains the individual’s name and residential address. Block out the TFN before scanning, copying or storing this document.

A document issued by a local government body or utilities provider within the preceding 3 months which records the provision of services to that address or to that person (the document must contain the individual’s name and residential address).

If under the age of 18, a notice that: was issued to the individual by a school principal within the preceding 3 months; and contains the name and residential address; and records the period of time that the individual attended that school.

GROUP B – Companies

For Australian Registered Companies, provide one of the following (must clearly show the Company’s full name, type (private or public) and ACN):

A certified copy of the company’s Certificate of Registration or incorporation issued by ASIC A copy of information regarding the company’s licence or other information held by the relevant

Commonwealth, State or Territory regulatory body e.g. AFSL, RSE, ACL etc. A full company search issued in the previous 3 months. If the company is listed on an Australian securities exchange, provide details of the exchange and the

ticker (issuer) code. If the company is a majority owned subsidiary of a company listed on an Australian securities exchange,

provide details of the exchange and the ticker (issuer) code for the holding company.

For Foreign Companies, provide one of the following:

A certified copy of the company’s Certificate of Registration or incorporation issued by the foreign jurisdictions in which the company was incorporated, established or formed.

A certified copy of the company’s articles of association or constitution. A copy of a company search on the ASIC database or relevant foreign registration body.

All of the above must clearly show the company’s full name, its type (i.e. public or private) and the ARBN issued by ASIC, or the identification number issued to the company by the foreign regulator.

In addition, please provide verification documents for each beneficial owner (senior managing official and shareholder) as listed under Group A.

A beneficial owner of a company is any customer entitled (either directly or indirectly) to exercise 25% or more of the voting rights, including a power of veto, or who holds the position of senior managing official (or equivalent).


GROUP C – Trusts

For a Registered Managed Investment Scheme, Government Superannuation Fund or a trust registered with the Australian Charities, Regulated Superannuation Fund (including a self-managed super fund) and Not-for-profit Commission (ACNC), provide one of the following:

A copy of the company search of the relevant regulator’s website e.g. APRA, ASIC, or ATO. A copy or relevant extract of the legislation establishing the government superannuation fund sourced

from a government website. A copy from the ACNC of information registered about the trust as a charity Annual report or audited financial statements. A certified copy of a notice issued by the ATO within the previous 12 months. A certified copy of the Trust Deed

For all other Unregulated trust (including Foreign trust), provide the following:

A certified copy of the Trust Deed. If the trustee is an individual, please also provide verification documents for one trustee as listed under Group A.

If the trustee is a company, please also provide verification documents for a company as listed under Group B.

GROUP D – Authorised Representatives and Agents

In addition to the above entity groups:

If you are an Individual Authorised Representative or Agent – please also provide the identification documents listed under Group A.

If you are a Corporate Authorised Representative or Agent – please also provide the identification documents listed under Group B.

All Authorised Representatives and Agents must also provide a certified copy of their authority to act for the investor e.g. the POA, guardianship order, Executor or Administrator of a deceased estate, authority granted to a bankruptcy trustee, authority granted to the State or Public Trustee etc.

New Zealand Wholesale Investor Certificate 1

Vontobel mtx Sustainable Emerging Markets Leaders Fund Wholesale Investor Certification

(Clause 44 of Schedule 1 of the Financial Markets Conduct Act 2013 (FMCA))

Warning

New Zealand law normally requires people who offer financial products to give information to investors before they invest. This information is designed to help investors make an informed decision.

If you are a wholesale investor, the usual rules do not apply to offers of financial products made to you. As a result, you may not receive a complete and balanced set of information. You will also have fewer other legal protections for these investments.

Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.

Offence

It is an offence to give a certificate knowing that it is false or misleading in a material particular. The offence has a penalty of a fine not exceeding $50,000.

The Offer

Units in the Fund/Trust) are offered and issued to investors by Equity Trustees Limited (‘Equity Trustees’), with an Investment Manager appointed in respect of the Fund.

Offers of units in the Fund in New Zealand are limited to wholesale investors within the meaning of clause 3(2) of Schedule 1 of the Financial Markets Conduct Act 2013 (‘FMCA’).

In order to access units in the Fund, please review the PDS/IM and relevant New Zealand Wholesale Investor Fact Sheet or Investors Selling Restriction in the PDS/IM, read this form, select the type(s) of wholesale investor criteria that apply to you, and complete the certification below.

If you have any queries in relation to the Fund, please contact Equity Trustees at +61 38623 5000. Any queries in relation to your wholesale investor certification should be directed to Equity Trustees’ Product Team at [email protected].

The client identified below certifies that:

• the client is a wholesale investor within the meaning of Schedule 1 of the FMCA, clause 3(2) (in relation to offers of financial products); and

• the client understands the consequences of being certified as a ‘wholesale investor’ in terms of the FMCA and has received the PDS/IM.

The type of wholesale investor outlined in Schedule 1 that applies to the client is identified below, along with the grounds on which the client claims that they fall within the identified type.

Unless Equity Trustees agrees otherwise, by completing this form the client is certifying that every transaction on the account referred to below is carried out on its own behalf and not on behalf of any third party. Please contact Equity Trustees if you are acting on behalf of any third party.

[Please select all types of wholesale investor below that are applicable by marking a or a in the relevant box(es). For each type that applies, please also select the relevant grounds on which the client is within the identified type].

The client is an investment business (clause 3(2)(a))

Note: other than authorised financial advisers, this applies to entities, not individuals

Grounds for claiming the client is within this type:

The client is an entity whose principal business consists of investing in financial products

The client is an entity whose principal business consists of acting as an underwriter

The client is an entity whose principal business consists of providing a financial adviser service within the meaning of section 9 of the Financial Advisers Act 2008) in relation to financial products

The client is an entity whose principal business consists of providing a broking service (within the meaning of section 77B of the Financial Advisers Act 2008) in relation to financial products

The client is an entity whose principal business consists of trading in financial products on behalf of other persons

New Zealand Wholesale Investor Certificate 2

The client is a registered bank (within the meaning of section 2(1) of the Reserve Bank of New Zealand Act 1989)

The client is a non-bank deposit taker (within the meaning of section 5 of the Non-bank Deposit Takers Act 2013)

The client is a licensed insurer (within the meaning of section 6(1) of the Insurance (Prudential Supervision) Act 2010)

The client is a manager of a registered scheme, or a discretionary investment management service, that holds a market services licence

The client is a derivatives issuer that holds a market services licence

The client is a QFE or an authorised financial adviser

The client meets the investment activity criteria (clause 3(2)(b))


The client (including any entity that the client controls or controlled at the relevant time) owns, or at any time during the two-year period before the date of this certificate has owned, a portfolio of financial products (excluding category 2 products, interests in KiwiSaver or any other form of retirement scheme, or financial products issued by an associated person of the client) of a value of at least NZ$1 million (in aggregate)

The client (including any entity that the client controls or controlled at the relevant time) has, during the two-year period before the date of this certificate, carried out one or more transactions to acquire financial products (excluding category 2 products, interests in KiwiSaver or any other form of retirement scheme, or financial products issued by an associated person of the client) where the amount payable under those transactions (in aggregate) is at least NZ$1 million, and the other parties to the transactions were not associated persons of the client

The client is an individual who has, within the last 10 years before the date of this certificate, been employed or engaged in an investment business and has, for at least two years during that 10-year period, participated to a material extent in the investment decisions made by the investment business

The client is large (clause 3(2)(c))


As at the last day of each of the two most recently completed financial years before the date of this certificate, the net assets of the client and any entities controlled by the client exceeded NZ$5 million

In each of the two most recently completed financial years before the date of this certificate, the total consolidated turnover of the client and any entities controlled by the client exceeded NZ$5 million

The client is a government agency (clause 3(2)(d))


The client is a government department named in Schedule 1 of the State Sector Act 1988

The client is a Crown entity under section 7 of the Crown Entities Act 2004

The client is a local authority

The client is a State enterprise (within the meaning of section 2 of the State-Owned Enterprise Act 1986)

The client is the Reserve Bank

The client is the Board of Trustees of the National Provident Fund continued under the National Provident Fund Restructuring Act 1990 (or a company appointed under clause 3(1)(b) of Schedule 4 of that Act)

The client undertakes to provide Equity Trustees with any information it reasonably requests in order to support the certifications provided.

The client acknowledges that this certificate is provided to Equity Trustees for the purposes of determining the client’s

eligibility to be treated as a wholesale investor for the purposes of the FMCA, and that they will be reliant upon the certifications provided in offering financial products or services to the client (whether as part of the Fund or otherwise).

The client understands that this certificate is valid and may be relied upon by Equity Trustees for a period of two years following its date, unless earlier revoked.

Name of client:

Account number:

Signatures – all individuals/trustees/partners/officers and two directors must sign Investor 1 Investor 2 Name of individual /entity Name of individual/entity



Signature Signature

Date Date

Company Seal (if applicable)